The instability of our current healthcare system has greatly affected physicians and forced them to struggle to find new avenues of a more secure revenue stream. Not only is there a cut in physician reimbursement, but the amount of available care is shrinking at an unprecedented rate.
Never before has there been such a tremendous amount of available government contracts and government bids requesting medical services. In the past, physician practices did not seek federal, state or local government contracts based on the notion that they come with many difficulties. Up until recently, any effort to look for federal, state and local government bids for physician services has been ineffective. Due to physician reimbursement cuts there is new effort to change plans when it comes to medical bids.
Those physician practices that are now welcoming government contract work are seeing positive results and relief from a drop in revenue. Jim R. Ward, Vice President of Business Development for BidPrime, a leading source for obtaining government bids, contracts, and RFPs explains that anytime there is an overwhelming cut in profitable systems, the results will be twofold. Ward stated that “the groups that were prepared have expanded their scope of services to now incorporate finding worthwhile government bids and contracts to help offset losses. The groups that were not prepared are now being absorbed by hospital systems just to make ends meet. That second scenario was unimaginable just five years ago.”
Physicians are increasingly turning to available local, state and federal contracts as new sources of revenue and are now on the right track. These efforts have allowed physician practices and the government to work together for the time being. Ultimately, this collaboration will hopefully provide benefits for the public and private healthcare professionals.
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